The three most important things in real estate: Location, location, location.
At least that’s an old saying regularly re-confirmed by property prices.
So as you marvel at the news, reported on our front page Tuesday, that a local two-story penthouse has been listed for sale at $19.5 million, don’t overlook the fact that it’s an asking — not necessarily a getting — price.
But also don’t overlook the apparently considerable market value of living at the corner of Charleston’s Broad and State streets.
Another strong selling point: Though this swanky pad takes up only a part of the People’s Building, it consumes the top two floors.
In other words, it’s got a grand view of the city and the harbor.
It’s also really big — 7,516 square feet, including a 1,500-square-foot master suite. And that’s not counting 3,500 square feet of terrace space. Among the other lavish features are Turkish limestone floors, Calcutta gold marble countertops, elegant chandeliers and two Sub-Zero 132-bottle wine chillers.
John Dunnan of Handsome Properties Inc., is the selling agent for owner Terri Henning. He told our reporter: “I feel very privileged and excited to have it, and I’m heading to Monte Carlo to present it during the international real estate conference.”
And while Mr. Dunnan said the “marketing plan” for making this sale “has a local, national and international component to it,” a $19.5 million asking price for a condo is bound to inflict some sticker shock on many Charleston natives.
Then again, the seller could sweeten the deal with some high-quality stock in those wine chillers.